Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 - New Companies Act

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..... Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 - New Companies Act - By: - CS Swati Dodhi - Corporate Laws / IBC / SEBI - Dated:- 18-6-2014 - - FULL DETAIL OF RULE 8 and new Rule 8A - Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. .. . Text of rule 8 Every listed company and every other public company having a paid-u .....

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..... p share capital of ten crore rupees or more shall have whole-time key managerial personnel [KMP defined in section 2(51) includes MD, CEO, MGR, CS, WTD, CFO .]. . Text of rule 8A After rule 8 , the following rule shall be inserted, namely: - Rule 8A - Appointment of Company Secretaries IN COMPANIES not covered under rule 8 . . A company other than a company covered under rule 8 .....

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..... which has a paid up share capital of five crore rupees or more shall have a whole-time company secretary. . NOW, THE INTERPRETATION - . New Rule 8A is applicable to all those companies (public companies as well as private companies) which are not covered in existing Rule 8 . Existing Rule 8 covers (i) listed public companies, and (ii) unlisted public companies having paid up c .....

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..... apital of Rs. 10 crores or more). . As per simple literal interpretation of new Rule 8A - An unlisted public company having paid up capital of Rs. 5 crores or more but less than 10 crores is not covered in Rule 8 , and therefore such public company is also covered in Rule 8A, and hence it has to appoint whole time CS, though other KMPs are not required. . HENCE PROVED. that an unlisted public .....

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..... company having paid up capital of 5 crores or more but less than 10 crores has to appoint CS; though other KMPs are not mandatory.... - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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